Our pensions must be divested from for-profit long-term care

We are deeply concerned that the Public Service Pension (PSP) is the sole owner of Revera Inc. and its long-term care and nursing homes.

81% of all deaths in Canada caused by COVID-19 have been in long-term care homes.

More than 9,650 staff members in long-term care homes have been infected by COVID-19 – over 10% of all COVID-19 cases in the country. Nine people who worked in long-term care facilities have died.

Rates of COVID infection and deaths are higher in privately owned long-term care homes.

Long-term care homes have larger COVID-19 outbreaks and more resident deaths from COVID-19 than non-profit and municipal homes. We believe that privately owned long-term care homes in Canada should be moved into the public sector.

PSP Investments should not be making profits for our pensions from long-term care homes.

PSP Investments should divest itself from Revera Inc. and negotiate to transfer administration and ownership to provincial governments in each province. This policy is supported by 2/3 of Canadians according to a recent Angus Reid poll.

We made our position clear to PSP Investments in a recent letter.

Read our letter

We are disappointed with the inadequate response from PSP Investments.

PSP Investments President and CEO, Neil Cunningham, has no plan to divest from Revera. He has no plan to move Revera to the public sector to protect seniors.

He believes for-profit, long-term care facilities are an appropriate investment for public servants’ pensions and has offered no explanation for the high COVID-19 related death rates in these homes.

Read the PSP Investments letter

The Honourable Jean-Yves Duclos, President of the Treasury Board, has also replied to our concerns stating that PSP Investments are at arms length to the federal government and its “investment decisions are its own.”

Read the Treasury Board letter

We are committed to protecting our pensions, and investment in for-profit healthcare works against these aims. We believe that we can create a better health and safety environment for everyone in Canada. This means dramatically improving the situation in our long-term care homes for residents and for employees.

We are waiting for responses to our letters sent to the provincial health ministers in all provinces with Revera homes.

Published on 14 October 2020

25 September 2020

Speech from the Throne: steps in the right direction, still more to be done

On September 23, 2020 Governor General Julie Payette delivered a particularly important Speech from the Throne that outlined the government’s priorities and plans for the critical months ahead. In the Speech, the government made a number of statements on issues of great importance to our members and to all Canadians.

9 June 2020

Thank you to our public service professionals

When COVID-19 struck, you were ready and you delivered. You are what keeps this country together, and we couldn’t be more proud.

25 March 2020

Remote Meeting with Minister of Digital Government Joyce Murray

As we continue our best to represent and advocate for our members despite the current situation with COVID-19, we wanted to share with you an important meeting we held by teleconference with Minister Joyce Murray.

14 February 2020

The state of federal buildings is completely unacceptable

The inexcusable state of federal buildings across the country is an extremely concerning situation that can only be corrected by a long-term, and expensive, commitment on the part of the government. We will continue to keep a very close watch on the situation.

4 February 2020

An encouraging first meeting with Treasury Board President Duclos

On January 17, 2020 I met for the first time with the new President of the Treasury Board, Jean-Yves Duclos.

3 January 2020

Welcome 2020!

We are heading into the new year, energized and determined. In the year ahead, we will work hard to get back every cent owed from Phoenix, ratify the new Employee Wellness Support Plan, fight outsourcing and protect our pensions.